A trader on the desk wrote this in his daily review: Took the train home with (redacted, Senior Trader at firm) today, we had a really good chat. Seeing how far he has come and how he views trades. Does Not trade price action so much. He focuses more on his overall idea and trades it loosely. Shorting rallies covering … Read More
SMB Webinar: Interview with Prop Firm Trader
Attend a live web meeting where Mike Bellafiore and Merritt Black will have a conversation with a trader from our firm. Learn about his path to becoming a trader at our firm and take away lessons to help get you to the next level in your trading.
How to improve your discipline as a trader
A new trader wrote this to me: Noob (trader here). Two months in with maybe a total of 3 days where I consistently followed my rules. Down about 2k thus far. I am questioning my ability to do this. Mainly because of my lack of discipline in following my rules. There is the old parable about the frog that asks … Read More
When you are trading well…..try this
During a daily review one of the firm’s top traders observed this about this trading: I am feeling confident about my trades, seeing the markets well, and want to leverage this period here to trade aggressively as long as I am staying in sync. Dr. Steenbarger has taught us traders to study, study, study the trading periods when you are … Read More
Getting in the back door at a prop trading firm
Yesterday Merritt and I had lunch with the winner of The Winning Trader. This is a short training program that exposes developing and new traders to setups with edge. The idea is to gain exposure to setups for students to try and see if they work for them, build a PlayBook, and learn how pro traders attack the trading day. … Read More
What are you going to do about it?
Last night a trader sent me a review from a very poor trading day. He wrote: Little mad at myself for not taking 2 of my best setups in UVE below 18 and HCI at 32. Had the alerts go off but didn’t take the trade, and those trades played out to perfection. It definitely got under my skin most … Read More
An anecdote from a developing trader on the prop desk- sizing
One of our developing traders is consistently profitable. Undeniably, he trades with edge. This is a great position to be in. But for some traders it is not sufficient. They are making money, but they are not making enough. And when you are sitting next to and behind 7-figure traders it is not enough. So this trader sought to trade … Read More
How market profiles are constructed
In this video Merritt Black discusses what market profiles are and how they are constructed.